"Right now, the philanthropic sector is demonstrating a historic level of interest in racial equity, but to distribute funds more equitably in practice, institutions must change policies and priorities internally," said Marcus Walton, director of Racial Equity Initiatives at Borealis Philanthropy.

"Philanthropic organizations are recognizing the close connection between changing our sector and the changes we seek in society," said La June Montgomery Tabron, president and CEO of the Kellogg Foundation. "Achieving these changes requires determination and a long-term commitment to infuse racial equity and inclusion into all of our internal and external policies and practices. Through our collective work, we will stand together to widen the path for equity in communities."